Collaboration: The Missing Piece In Enterprise Risk Management

This white paper from BitSight explores how a lack of collaboration is undermining Enterprise Risk Management (ERM) efforts, even as global business risk increases. Despite the rise of the CRO role, many ERM teams remain disconnected from business strategy, talent pipelines, third-party oversight, and corporate culture. This siloed approach reduces the effectiveness of risk mitigation and limits ERM’s strategic value.

The paper identifies four key gaps—strategic, talent, third-party, and culture—that prevent risk teams from influencing outcomes. It offers actionable solutions, such as integrating risk metrics into strategic planning, expanding talent pools beyond analytics experts, and using platforms like BitSight to automate third-party risk monitoring. It also advocates for embedding risk ownership into training programs and HR policies to create a risk-aware culture across all business units.

BitSight emphasizes that ERM must evolve from passive reporting to active engagement. With continuous monitoring tools and collaborative processes, organizations can manage vendor risk, anticipate internal threats, and align risk intelligence with decision-making.

Download this report to discover how BitSight enables ERM leaders to close organizational gaps and drive enterprise-wide risk accountability.